Financials Pampa Energía S.A.

Equities

PAMP

ARP432631215

Electric Utilities

End-of-day quote Buenos Aires S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
2,469 ARS +0.97% Intraday chart for Pampa Energía S.A. +9.43% +27.81%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 84,892 119,953 229,776 608,646 2,632,231 3,366,072 - -
Enterprise Value (EV) 1 166,132 222,219 318,725 608,646 3,580,048 4,524,717 4,597,083 4,501,551
P/E ratio 2.71 x -3.81 x 8.58 x 9.37 x 76.5 x 4.42 x 10.3 x 9.19 x
Yield - - - - - - - -
Capitalization / Revenue 0.55 x 1.57 x 1.59 x 2.51 x 5.12 x 1.94 x 1.87 x 1.79 x
EV / Revenue 1.07 x 2.9 x 2.2 x 2.51 x 6.97 x 2.6 x 2.56 x 2.39 x
EV / EBITDA 2.9 x 3.26 x 3.24 x 3.35 x 5.5 x 5.75 x 5.22 x 5.05 x
EV / FCF 18.7 x 5.14 x 5.56 x - -208 x 57.8 x 10.3 x 9.44 x
FCF Yield 5.36% 19.5% 18% - -0.48% 1.73% 9.72% 10.6%
Price to Book 0.78 x - 1.27 x - 1.36 x 0.72 x 0.62 x 0.55 x
Nbr of stocks (in thousands) 1,704,650 1,544,786 1,382,527 1,383,600 1,362,720 1,363,500 - -
Reference price 2 49.80 77.65 166.2 439.9 1,932 2,469 2,469 2,469
Announcement Date 3/10/20 3/11/21 3/10/22 3/9/23 3/6/24 - - -
1ARS in Million2ARS
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 154,642 76,639 144,641 242,182 513,727 1,739,261 1,797,427 1,882,393
EBITDA 1 57,266 68,089 98,443 181,937 651,228 787,016 881,434 892,020
EBIT 1 23,535 28,549 56,426 88,451 117,754 566,112 624,752 670,267
Operating Margin 15.22% 37.25% 39.01% 36.52% 22.92% 32.55% 34.76% 35.61%
Earnings before Tax (EBT) 1 45,431 12,487 38,216 84,289 169,248 428,981 492,451 559,488
Net income 1 33,012 -31,447 27,097 64,859 34,488 324,884 371,838 400,703
Net margin 21.35% -41.03% 18.73% 26.78% 6.71% 18.68% 20.69% 21.29%
EPS 2 18.35 -20.40 19.38 46.97 25.25 558.2 239.0 268.7
Free Cash Flow 1 8,898 43,230 57,333 - -17,171 78,269 446,728 476,932
FCF margin 5.75% 56.41% 39.64% - -3.34% 4.5% 24.85% 25.34%
FCF Conversion (EBITDA) 15.54% 63.49% 58.24% - - 9.94% 50.68% 53.47%
FCF Conversion (Net income) 26.95% - 211.59% - - 24.09% 120.14% 119.02%
Dividend per Share 2 - - - - - - - -
Announcement Date 3/10/20 3/11/21 3/10/22 3/9/23 3/6/24 - - -
1ARS in Million2ARS
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 42,529 40,901 44,011 55,512 69,225 73,434 83,915 110,341 152,701 166,770 373,418 406,690 532,855 479,077
EBITDA 1 26,238 21,647 26,380 33,964 39,200 36,668 47,085 63,315 85,400 115,022 163,903 193,723 275,341 222,320
EBIT 1 20,510 11,470 14,481 - - 27,043 26,160 35,344 53,105 3,145 101,053 127,391 197,038 135,202
Operating Margin 48.23% 28.04% 32.9% - - 36.83% 31.17% 32.03% 34.78% 1.89% 27.06% 31.32% 36.98% 28.22%
Earnings before Tax (EBT) 1 - - - - - - 26,285 - 64,082 28,851 70,132 94,885 81,857 69,060
Net income 1 - 4,520 - 8,165 23,979 22,411 26,918 42,179 50,611 -85,220 60,748 77,209 145,473 65,212
Net margin - 11.05% - 14.71% 34.64% 30.52% 32.08% 38.23% 33.14% -51.1% 16.27% 18.98% 27.3% 13.61%
EPS 2 9.060 3.260 - - - - - - 37.21 -62.66 32.87 153.2 132.1 111.5
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/10/21 3/10/22 5/12/22 8/11/22 11/7/22 3/9/23 5/10/23 8/9/23 11/8/23 3/6/24 - - - -
1ARS in Million2ARS
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 81,240 102,266 88,949 - 947,817 1,158,644 1,231,011 1,135,478
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.419 x 1.502 x 0.9036 x - 1.455 x 1.472 x 1.397 x 1.273 x
Free Cash Flow 1 8,898 43,230 57,333 - -17,171 78,269 446,728 476,932
ROE (net income / shareholders' equity) 39.7% 15.1% 17.8% - 2.94% 17.1% 23.4% 37.7%
ROA (Net income/ Total Assets) 11.9% - 6.71% - 1.48% 12.9% 3.8% 3.7%
Assets 1 277,132 - 404,071 - 2,328,697 2,518,480 9,785,211 10,829,822
Book Value Per Share 2 63.80 - 131.0 - 1,423 3,438 3,950 4,526
Cash Flow per Share - 32.80 51.30 - - - - -
Capex 1 28,813 11,292 22,583 - 194,270 510,871 459,525 465,653
Capex / Sales 18.63% 14.73% 15.61% - 37.82% 29.37% 25.57% 24.74%
Announcement Date 3/10/20 3/11/21 3/10/22 3/9/23 3/6/24 - - -
1ARS in Million2ARS
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
2,469 ARS
Average target price
3,471 ARS
Spread / Average Target
+40.61%
Consensus
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